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<br />Mr. Craig Waldran <br />June 28, 1990 <br />Page 2 <br /> <br />responsible for developing the marketing programs and referral systems that will <br />result in higher occupancy levels for the 18 facilities. It is the goal of the <br />joint venture management group to increase the occupancy to 95% of capacity from <br />the current level of 70-80%. <br /> <br />In closing, I would also like to say that the City of ~oseville's participation <br />in this program is to act as a conduit to permit the aèquisition to be financed <br />at interest rates that can be supported within the reimbursement regulations of <br />Minnesota I s Medicaid system. The City has no obl igation to make any payments for <br />the bonds and the sole source of payment for the bonds is the revenues of The <br />Long Term Care Foundation. <br /> <br />Thank you for the consideration that your city council and you are giving to this <br />request. If you have any questions, please do not hesitate to call me at 444- <br />9881 or Rod Pakonen at 343-1301. We are also looking forward to visiting with <br />your city council about this very worthwhile project. <br /> <br />Sincerely, <br /> <br />~Yn.~ <br /> <br />(Dictated but not read) <br />Dale M. Thompson <br />President <br /> <br />DT Irs <br />dtl-0628. hd i <br /> <br />cc: Rod pakonen <br />